Leo Sorensen
“We found a need for [payday loans]… all of a sudden for some reason we turned out to be bad guys that are taking advantage of people.”
Canadian payday lender Leo Sorensen defends his industry in an article…
In the article entitled Payday Loans – In Over Your Head? by Lori Creech, Sorensen compared payday lending to prostitution:
“Maybe it’s not good money management which is why we are in business in the first place… There are always guys wanting to borrow money. It’s almost like saying prostitution is bad. Are you going to get rid of it? You’re not going to get rid of people borrowing money.”
Leo Sorensen, a 72 year old veteran of the construction industry, entered the payday loan business eight years ago and now owns 27 stores.
Source: Payday Loans – In Over Your Head? by Lori Creech (Lacombe Globe)
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